Posted in Caring

HUD investigation

   May 15, 2011

The Washington Post analyzed major construction and renovation projects currently funded by the U.S. Department of Housing and Urban Development, a total of 5,100 development deals worth $3.2 billion. The Post found that nearly 700 projects awarded $400 million appear to be stalled or abandoned. An additional 600 projects have not drawn any of the money allocated, tying up $250 million.

Florida has 311 HUD projects, total budget $156 million –of which $24.7 million has been delayed, $18.1 million has not been drawn.

Pensacola area has three projects, under $1 million in funding. Considering high poverty rate, this number seems very low.

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